Binance Cryptocurrency Exchange Overview Guide / Tutorial | Bitcoin Lifestyles Club [FREE TRAINING]

Hello my friend, Caleb Wright here from Bitcoin
Lifestyles Club, and today I’m going to give you a guided overview of the available features
and functions of the Binance cryptocurrency exchange. So lets get started without further ado. This is the dashboard page you will first
see when you log in to your newly registered Binance account. The navigation at the top of the screen gives
you all the available options at Binance. The exchange link will let you access either
the basic or advanced versions of the exchange. We are currently using the basic layout. The Labs link is a place that cryptocurrency
and blockchain entrepreneurs can submit their projects and apply for funding from Binance. Launchpad is an area where you can get more
information about ICO’s that are happening or have happened on Binance. If you are launching an ICO, you can also
use this page to apply to launch it on Binance. The info link will bring you to a page on
Binance very similar to which gives you a list of the top 100 cryptocurrencies
and their market statistics. You can click into any one of them for further
information and even links to the latest news and developments. The academy page gives you some handy educational
videos on the general topics of blockchain, security and the Binance exchange. Now on the right hand side of the navigation,
the funds drop down menu will give you links to access your cryptocurrency balances and
wallets, it will give you the page where you can view your deposits, and your withdrawals
and your transaction history. The transaction history in this case will
be specifically for your deposits and withdrawals to and from the Binance exchange. And you can easily export any of this transactional
data, from trade history to deposits and withdrawals to CSV files for your records. The orders dropdown will give you options
to look at your open orders, your order history and your trade history pages. Again all of this information is also exportable
to CSV. The Join Us link will bring you to an area
with more information about jobs and careers that are available at Binance. If you need support this link will bring you
to their support forum, where you can submit a request if needed. News will bring you to a page with all sorts
of news about developments, updates and things that are happening in general at Binance. If you hover over the person icon it will
show a quick view of your overall account value in Bitcoins. If you click where it says ‘Account’ it will
take you to your account options page, which will have the area where you can verify your
account and setup security settings like two factor authentication. The globe icon that’s right next to it, will
give you a dropdown of various languages, so you can select whichever is your preference. Underneath the main navigation menu at the
top of the page you have some ads about different features of the exchange. For example, this one advertises the Trust
wallet. Which is the mobile wallet that’s recommended
by Binance. And it works with most of the coins and ERC20
tokens that are available on Binance. They advertise jobs that are available, in
case you are looking for some type of employment in the cryptocurrency industry. The Binance Academy Community Content Drive
is basically an incentive they are providing to exchange members to produce helpful videos
about how to use different features of the exchange. They actually have a list of video topics
that they are looking for to be produced, and if you submit a video and they want to
use it, they will reward you with 50 BNB, which is Binance coin, the official currency
of Binance. Its handy to have BNB because you can setup
your account to pay for your trading fees with BNB which can save you money, as you
get a 25% discount on trading fees that you pay with Binance coin. And then the community coin of the month is
where you can participate in voting for coins to get on the Binance exchange. You can also submit applications for coins
to be put up to a community vote to be added. Just click on any of these banners for further
info if you want to take action with any of it. A little lower on the page it will show some
featured cryptocurrencies and their stats. And then right below that, you have the main
list of cryptocurrency trading pairs by type, via the tabs at the top of the list. You have four different markets you can trade
on Binance, including BNB trading pairs, the Bitcoin trading pairs, which is where we will
be focusing most of our trading efforts. Ethereum trading pairs and USDT Tether trading
pairs. Which you can access by clicking any of these
tabs here, right now we’re focused on the BTC markets here and so as you see here in
the list we have all the coins that are trading against bitcoin. Which is pretty much all coins that are out
there, trade against bitcoin. The information they are giving here per trading
pair will basically be the heading of each column, starting with the actual trading pairs,
the name of the coin, the last price to occur, the 24 hour change in value percentage, if
its green its a positive gain, if it’s red it’s negative. The 24 hour high and low prices in bitcoin
value, otherwise known as satoshi value. And lastly the 24 hour volume of all trading
for that trading pair. You can click the star next to any trading
pair from any market, in order to save it as a favorite. And you can access your favorites from the
leftmost tab. It’s convenient to add all the currencies
that you are currently trading or interested in, to your favorites for easy future reference. If you have a certain coin you are looking
to trade, you can just use the search function on the upper right hand side of the trading
pair lists. You can type in the name of the coin, just
type in the call letters or the name of the currency to see all the trading pairs that
are available for whatever market tab you have selected. You can click any of the currencies in the
list to go to it’s actual page on the exchange where you can place trades. I’m going to click into the ICX/BTC trading
pair. A currency known as ICON. This is the exchange page for ICON where we
can trade it against Bitcoin. If you can’t already tell, there is a lot
going on, on this page. So I’ll help you make sense of it. At the top of the page, it will have some
stats for the coin. Including price, 24 hour change, high and
low prices for the 24 hour period, and 24 hour trading volume in bitcoin. There is a small link right underneath the
call letters, that will take you to a page with more detailed information about the coin. Even including the latest news articles. Below that in the center, you have the candlestick
price chart complete with moving averages. Each of these lines. In this part underneath represents the overall
trading volume for each candle. Obviously, the higher the bar the more volume. And if the bar is green, that means the majority
of the trading volume was buying. And if it was red that means the majority
of it was selling. And if you scroll your mouse over, you can
get more detailed info. Just like if you scroll it over any part of
the charts, as you can see. The part of the chart right underneath the
trading volume, is the MACD, which is a technical indicator we can use to help us judge when
its a good time to buy or sell. I’m not going to go into deeper detail about
all this now however, you will get all the details you need on how to properly read all
of this and use it to your advantage in the technical analysis section of the course. You can adjust the time frame of the candlestick
chart using the buttons at the top left of the chart. You have options of Minute long charts, Hourly
charts, Daily charts, Weekly candlestick charts and Monthly candlestick charts. With the minute and hourly candlestick charts,
you can click their dropdown menus and you have a full array of expected options of scale
in time. All the way from 1 hour to 12 hour candlesticks. I tend to use 1, 2 and 4 hour candlesticks
the most when it comes to hourly timeframe charts. And you have the similar array of options
for even shorter time frame charts in the minutes category, as you can see here. On the upper right hand corner of the chart,
you also have the option to view the Trading View version of the chart, and also the Depth
Chart. Whether you use the standard chart view or
the Trading View charts is totally up to your preference of whichever one you like the look
of better. But this depth chart will give you a quick
look at the support and resistance on the exchange for whatever coin market that your
looking at. The green part of the chart represents the
buy orders that are built up for this coin, or the support. The red part of the chart represents the sell
orders, or the resistance. As we can see from a quick observation, it
looks like there is greater support currently than resistance. It’s kind of fluctuating a bit. But we have a steeper wall of bid orders here,
where thtere is a pretty shallow amount of sell orders. The depth chart is just one way to get a quick
view of the action as it’s happening right now on the exchange. Of course before you make any trading decisions,
it’s usually best to have at least 3 or 4 different technical reasons why you’d like
to enter the trade. This is just one thing that you can look at,
that’s not actually that technical, but it just gives you a handy view. If you click the button with the four outward
pointing arrows here, you can make the chart go full screen. This can be quite useful if you have a multi
screen setup, or plan to start using one. Underneath the whole chart area you have the
forms that will let you buy the market, place bid or sell orders, or set stop limit orders. It will tell you what your trading fees are,
in the upper right hand corner. The ‘Taker Fee’ percentage is what your charged
for a fee when you buy or sell the market. The ‘Maker’ percentage is what you are charged
when you place a bid or sell order and it actually gets filled by the movements of the
market. The first tab here labeled limit is the one
we will be using most of the time to setup your bids and sells in advance, according
to whatever targets you have set via your analysis or goals. Under the buy section, it will show you how
much BTC you have available to buy the coin, right in this spot right here. And the same conversely for the sell side
of the form. it will show you how much of the currency
you have available to sell. I will show you how to use these forms to
buy and sell the market, setup bid or sell orders in advance and how to setup stop-limit
orders in upcoming videos focused on each of these aspects specifically. On the lefthand side of the candlestick chart,
you have the order books. The top part which has all the numbers in
red is the sell side of the order book. You can see in the leftmost column the satoshi
prices of the sell orders that are stacked up. How much of the coins that are for sale at
each of these satoshi prices. For example 1598 ICON coins are for sale at
1092 satoshis. So basically you get the satoshi price, how
much coins are for sale at the satoshi price and what that equates to in bitcoin value
here in the righthand column of this box. And you can simply click any of these prices
to conveniently auto populate the buying and selling forms, as you can see I clicked 1088
satoshis up there and now it shows it here under ‘price’ for Buy ICX and Sell ICX. And as you probably expected, the bottom part
of this form with the green numbers represents the buy orders that are currently stacked
up on this coin. You can switch the position of the sell orders
and the buy orders using the button at the top here. For example this one will let you see all
buy orders, and then you can scroll through deeper into the buy orders than you were able
to when you could see both of them. Then this next button lets you see all the
sell orders, and you can scroll deeper up into the sell prices and then to see both
of them at once with the current bid price in between, in the middle. Just click this left most button here. And on the right side of the price chart,
you have access to the list of currencies by market. Right here you have the buttons, bitcoin,
ethereum, BNB and USD Tether. Those are the different markets that we have
the trading pairs available down in this list. And it even has a handy search function that
you can use to quickly find the coin market that you are looking for. You can adjust the righthand side of this
area to display either the 24 hour trading volume, by just clicking this little radio
button here. It will show the 24 hour trading volume of
bitcoins in this right column, or if you click the change radio button here, it will show
you the percentage of change within 24 hours for each currency pair. You can also scroll right through the list
as well. And you can select coins as your favorites,
which also you can click the favorite button here, so you can get the list of all your
favorite currencies displaying only in the box below, just like that. In the box right below this, provides a history
of all the trades that are happening in this coin market. You can use these buttons at the top to toggle
between all the trades of the market, or your trades. And underneath that, recent market activity
is just going to be some randomly relevant cryptocurrency stats that are happening on
the exchange. Scrolling further down the page, you have
a list of any open buy or sell orders that you have open on any coins. And then right below that, it will show your
24 hour order history. Next I’ll show you the page where you can
view all your cryptocurrency balances and make the deposits or withdrawals. We will just scroll all the way back up to
get to the navigation, and roll the mouse over ‘Funds’, and then open the dropdown menu
and select ‘balances’. This will show all of your current cryptocurrency
balances on Binance. Starting in the order of your largest holdings
first. Of course you can toggle the order of everything
by just clicking any of the top columns here. For example if we click total balance, it
will then show from your lowest holdings first, which is you know all the coins that you don’t
have any of. So lets click it again. You can also organize the names by alphabetical,
I’ll just go by total balance again, as it’s easiest right now. And of course you can use the search feature
on the top left to find any currency you need from the list. The information displayed here is as follows. You have your coin call letters and name of
the coin in the first two lefthand side columns. If you click the name, it’s a link that will
bring you to the actual informational page for that coin. Then there is your balance, your available
balance, meaning coins that are not assigned already to sell orders, and if you do have
any in sell orders, it will show that amount in the next column under ‘order’. And then last but not least, it displays the
total bitcoin value of your coin holdings. The buttons on the very right give you your
ability to deposit or withdraw coins to and from the exchange. And of course if you click the trade button,
it will bring you to the exchange page specifically for that coin. If you have had your Binance account for a
while you may have accumulated some very small balances of airdrop coins. Because that happens with Binance. And when you do, if you want to you can use
the option at the top to ‘Convert to BNB’ and it will bring you to a page where you
can convert all your coin balances you have that are worth less than .001 bitcoin to Binance
coin. Which can be quite handy, because you can
use it to get the discount on your trading fees. So as you can see these are all the balances
I have that are under .001 in bitcoin value and if I wanted to, I could click this button
and convert it to 0.27 some odd Binance coin. Now I’m going to show you your account settings
page. Just scroll over the person icon at the upper
right hand corner of the website to reveal the dropdown menu and click your ‘account’. This will bring you to your account page. This is where you can work on verifying your
account for higher withdrawal limits. Depending on which level you have verified
to already, there will be a link next to the level with further info on how to complete
verification. For example for a level 3 verification, I
have to contact Binance. I would suggest that you turn on ‘Using BNB
to pay for fees’ since you get a 25% discount on trading fees if you do. You can change your login password if you
need to. I would suggest to set an anti phishing code. You basically choose a number, and it will
show up in any official emails from Binance. So this way you can know if an email from
them is authentic or if it’s a phishing scam. API access is something you may use with a
cointracking program that is keeping track of your portfolio and trading. I would only ever suggest to use API as long
as you carefully set the API access to only allow it to read data and keep it restricted
from making trades or withdrawals, so you don’t get hacked. And on the right here, you have the option
between SMS Authentication for log ins, withdrawals and security modifications… or Google Authentication. I would suggest to bypass the SMS text authentication
option and only use the Google Authentication option to secure your account. Because SMS authentication has proven to be
easily hackable, if a hacker were to ever get control of your phone’s sim card and get
your mobile account active on another phone. Google Authenticator is a free app available
for download to your phone from the app store. Something else you maybe noticing standing
out here is that banner advertisement for their referral program. Your account comes with an affiliate link
you can use to refer friends, family and really anybody to gain 20% commission on all the
trading fees that they incur on the Binance Cryptocurrency Exchange. And you gain that commission in the form of
Binance coin. This is an easy way to earn some extra BNB
to pay for your trading fees, and by the way if you still need to register your Binance
account, my link is below in the video description and THANK YOU in advance if you take the time
to use it, I appreciate you! Underneath this you have an option to further
protect your account by adding a whitelist of wallet addresses that can be withdrawn
to. This way if your account were to ever get
hacked, the hacker would only ever be able to withdraw your funds to your wallet for
you. Pretty funny, and a great idea actually. Looks like I should go about setting it up
sooner than later, this is actually a newer and quite clever security feature. Then at the bottom of the page here, you have
information about which devices and IP addresses have been accessing your account on the exchange. A history of crypto airdrops distributions
you have received. and a login history with dates, locations
and IP addresses. So last but not least, I still have not show
you the advanced view of the exchange. So get ready. We will just use the navigation button up
here at the top, and click advanced. So it basically gives you a much larger view
of the chart. The options are very similar, and everything
works basically the same, it just looks different and you get a few more options. Like the ability to toggle all sorts of technical
indicators, if you click up here in indicators you have all these technical indicators options,
like you can set your Relative Strength Index for example. They put your orders, order history and other
infos underneath the chart. And on the righthand side, you have your order
books right here. And live trading history. And right under that you have your buy order
and sell order forms. Works just the way it does over on the basic
side. And you can click the Binance logo to go back
to the basic view. So at this point, I have shown you all the
most significant areas of the Binance Cryptocurrency Exchange and I’ve given you a good idea of
what each part is for and how it works. However, I will have some more focused training
videos for you next, that will show you exactly how to use certain functions of the exchange. Make sure you checkout my next video, where
I’m going to show you how to deposit and withdraw funds to and from your Binance account. If you found value in this video today, I
would certainly appreciate your support if you would take the time to LIKE this video,
SHARE it with your friends and LEAVE A COMMENT BELOW letting me know how you feel about my
Binance Exchange Overview video. I would love your feedback and it would certainly
help me out. And by the way, if you still need to sign
up for your Binance account, I have put a link in the video description for your convenience,
if you’d like to give me credit for providing you with this information today. I definitely would appreciate it. And if you need a video guide on how to register
and secure your account with two factor authentication, I have added a link to it in the video description
below. In case you need it. And if you really want to get after it with
cryptocurrency trading, maximise and get the best results possible, you should take a serious
look at my Cryptocurrency Trading & Mining Mastery Course and 24-7 running Mastermind
Chat Group on Slack. Of which you can get more information about
it at my website And if you would like more information, you
can find a link to my site in the video description below. So Caleb Wright here, signing off from Bitcoin
Lifestyles Club. I wish you much prosperity and will catch
you on the next training video.

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